Electric vehicles (or EVs for short) have become one of the trendiest investments on the market and thus have attracted a fair number of individuals interested in investing in them.
As such, we have a quick overview of some of the best companies in the EV space to consider investing in this year.
Tesla (TSLA)
There is no other place to start in this sector than Tesla. The company has experienced tremendous growth and has been one of the most lucrative investments in recent history. Elon Musk is now the world’s richest person because of it.
Tesla is thus the leader in EV and it has continued to expand its business in a number of areas.
The company currently has operations in the United States and China and it should eventually establish a base in Europe too.
The company not only has a significant standing in the electric vehicles business, it also places a huge emphasis on energy storage and has been diversifying a great deal in recent years.
Tesla, of course, does not come cheap and is trading at roughly $826 per share.
Nio (NIO)
Nio also had a pretty insane 2020 and actually saw their stock rise even more so than Tesla. At one point, shares were just $1.19. Recently, they hit a high of approximately $57.20.
The increase in price isn’t for no reason, as the company is now hitting a record number of deliveries per month with an increase in demand in EVs in China.
Of course, Nio is a direct competitor to Tesla in that country, but the size of China means that both can certainly capitalize.
The company has shown in recent figures that it continues to increase the number of deliveries and is seeing new highs even during the coronavirus pandemic.
All of this has occurred after the company implemented a number of new business practices to improve margins and establish new partnerships.
Nio is currently trading at about $56 per share.
Ford (F)
Ford may not be the most trendy or newest name on this list, but it has the longest track record of success in automobiles overall.
It has also shifted towards EVs as of late and produces the Mustang Mach-E that will be released at some point in 2021.
Ford also plans to make a hybrid version of the popular F-Series pickup that will embrace electric technology. This is part of a greater mission by the famous company to offer vehicles in this new sector.
Ford stocks are also very affordable at less than $10 per share.
Workhorse (WKHS)
One of the more recent companies to enter the space that has seen significant traction is Workhorse.
The company saw most of its growth during the fourth quarter of 2020, but the forecasts for 2021 have been fairly optimistic overall.Â
The company expects its revenue to grow from $2.17 million in 2020 to roughly $140 million in 2021 and as much as $300 million in 2022.
While these are fairly optimistic numbers, it might be worth grabbing a few shares of the young company with this kind of growth in mind.
The stock sits at a fairly low cost now at around $25 per share.
BYD Company (BYDDY)
BYD Company is based in China and has been a trendy company as of late for its established name overseas and its foray into a number of vehicles that range from buses, electric bikes, cars, electronics, batteries and even railroad products. Unlike some of the other EV companies on this list,Â
BYD has been around for a while having been founded in 1995. It claims that its various new energy vehicles or NEVs are number one in global sales for three years in a row and it even has Berkshire Hathaway as a major shareholder.
Shares for BYD are at $30 as of this writing.
There are a few other honorable mentions to this list that should definitely be on any investors radar.
They include:
Plug Power (PLUG)
Fisker (FSR)
Both have their fair share of people who do not see them as sound investments just yet, but definitely put them on your watch list if you are interested in the space moving forward.
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